Northern Technologies International (NTIC) 10-Q 12 Jan 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Nov. 30, 2017	Jan. 12, 2018
Document Information [Line Items]
Entity Registrant Name	Northern Technologies International Corporation
Entity Central Index Key	875,582
Trading Symbol	ntic
Current Fiscal Year End Date	--08-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		4,537,408
Document Type	10-Q
Document Period End Date	Nov. 30, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Nov. 30, 2017	Aug. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 4,627,213	$ 6,360,201
Available for sale securities	3,770,241	3,766,984
Trade excluding joint ventures, less allowance for doubtful accounts of $40,000 at November 30, 2017 and August 31, 2017	7,251,821	5,912,631
Trade joint ventures	520,653	691,752
Fees for services provided to joint ventures	1,310,818	1,302,944
Income taxes		137,256
Inventories	7,969,328	7,456,552
Prepaid expenses	760,567	439,298
Total current assets	26,210,641	26,067,618
PROPERTY AND EQUIPMENT, NET	7,235,301	7,359,662
OTHER ASSETS:
Investments in joint ventures	21,701,913	20,035,074
Deferred income taxes	1,756,565	1,756,565
Patents and trademarks, net	1,291,335	1,322,089
Other		71,685
Total other assets	24,749,813	23,185,413
Total assets	58,195,755	56,612,693
CURRENT LIABILITIES:
Accounts payable	3,797,674	2,676,610
Income taxes payable	15,565
Accrued liabilities:
Payroll and related benefits	955,903	1,540,386
Other	1,058,793	677,621
Total current liabilities	5,827,935	4,894,617
COMMITMENTS AND CONTINGENCIES (Note 12)
EQUITY:
Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding
Common stock, $0.02 par value per share; authorized 10,000,000 shares; issued and outstanding 4,537,408 and 4,535,018, respectively	90,748	90,700
Additional paid-in capital	14,294,584	14,163,509
Retained earnings	37,706,367	37,077,483
Accumulated other comprehensive loss	(2,518,243)	(2,471,064)
Stockholders’ equity	49,573,456	48,860,628
Non-controlling interest	2,794,364	2,857,448
Total equity	52,367,820	51,718,076
Total liabilities and equity	$ 58,195,755	$ 56,612,693

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Nov. 30, 2017	Aug. 31, 2017
Trade allowance	$ 40,000	$ 40,000
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.02	$ 0.02
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	4,537,408	4,535,018
Common stock, shares outstanding (in shares)	4,537,408	4,535,018

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
NET SALES:
Net sales, excluding joint ventures	$ 11,035,407	$ 9,000,224
Net sales, to joint ventures	507,631	701,799
Total net sales	11,543,038	9,702,023
Cost of goods sold	7,888,470	6,612,766	[1]
Gross profit	3,654,568	3,089,257
JOINT VENTURE OPERATIONS:
Equity in income from joint ventures	1,741,328	1,274,004
Fees for services provided to joint ventures	1,507,142	1,315,591
Total joint venture operations	3,248,470	2,589,595
OPERATING EXPENSES:
Selling expenses	2,599,949	2,039,084
General and administrative expenses	2,219,745	2,471,780
Research and development expenses	798,731	642,522
Total operating expenses	5,618,425	5,153,386
OPERATING INCOME	1,284,613	525,466
INTEREST INCOME	24,056	3,563
INTEREST EXPENSE	(5,089)	(4,623)
INCOME BEFORE INCOME TAX EXPENSE	1,303,580	524,406
INCOME TAX EXPENSE	104,991	117,713
NET INCOME	1,198,589	406,693
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	114,963	109,054
NET INCOME ATTRIBUTABLE TO NTIC	$ 1,083,626	$ 297,639
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:
Basic (in dollars per share)	$ 0.24	$ 0.07
Diluted (in dollars per share)	$ 0.24	$ 0.07
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:
Basic (in shares)	4,537,368	4,531,950
Diluted (in shares)	4,608,788	4,558,878
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$ 0.10	$ 0
[1]	The percent of segment sales is calculated by dividing the direct cost of goods sold for each individual segment category by the net sales for each segment category.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
NET INCOME	$ 1,198,589	$ 406,693
Other comprehensive LOSS– foreign currency translation adjustment	(25,226)	(1,250,812)
COMPREHENSIVE INCOME (LOSS)	1,173,363	(844,119)
COMPREHENSIVE INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	136,916	60,372
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO NTIC	$ 1,036,447	$ (904,491)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,198,589	$ 406,693
Adjustments to reconcile net income to net cash used in operating activities:
Stock-based compensation	103,267	97,916
Depreciation expense	208,486	193,896
Amortization expense	62,177	29,759
Equity in income from joint ventures	(1,741,328)	(1,274,004)
Deferred income taxes		25,242
Dividends received from joint ventures	63,937
Receivables:
Trade, excluding joint ventures	(1,364,409)	(762,525)
Trade, joint ventures	171,099	91,385
Fees for services provided to joint ventures	(7,874)	(15,518)
Income taxes	(101,908)	84,922
Inventories	(530,401)	274,437
Prepaid expenses and other	(250,280)	(180,021)
Accounts payable	1,278,940	378,397
Income tax payable	102,618	(102,314)
Accrued liabilities	(622,696)	(172,691)
Net cash used in operating activities	(1,429,783)	(924,426)
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property and equipment	(87,250)	(112,589)
Proceeds from the sale of available for sale securities		497,896
Purchase of available for sale securities	(3,257)
Additions to patents	(31,423)	(58,202)
Net cash (used in) provided by investing activities	(121,930)	327,105
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividend received by non-controlling interest	(200,000)	(200,000)
Repurchase of common stock		(71,712)
Proceeds from option exercises	15,375
Proceeds from employee stock purchase plan	12,481	32,955
Net cash used in financing activities	(172,144)	(238,757)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS:	(9,131)	(30,056)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(1,732,988)	(866,134)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	6,360,201	3,395,274
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 4,627,213	$ 2,529,140

Note 1 - Interim Financial Info

Note 1 - Interim Financial Information	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. In the opinion of management, the accompanying unaudited consolidated financial statements contain all necessary adjustments, which are of a normal recurring nature, and present fairly the consolidated financial position of Northern Technologies International Corporation and its subsidiaries (the Company) as of November 30, 2017 August 31, 2017 three November 30, 2017 2016 three November 30, 2017 2016, These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s annual report on Form 10 August 31, 2017. Operating results for the three November 30, 2017 not may August 31, 2018. The Company evaluates events occurring after the date of the consolidated financial statements requiring recording or disclosure in the consolidated financial statements.

Note 2 - Accounting Pronounceme

Note 2 - Accounting Pronouncements	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	2. Accounting PronouncementS New Accounting Pronouncements Adopted In July 2015, No. 2015 11, Inventory first first first 2018 not In March 2016, No. 2016 07, Investments – Equity Method and Joint Ventures (Topic 323 2016 07 no first 2018 not In March 2016, 2016 09, Stock Compensation (Topic 718 first 2018. not Recently Issued Accounting Pronouncements In May 2014, Revenue from Contracts with Customers, Topic 606 No. 2014 09 2018. July 2015, one first 2019. 2014 09 During February 2016, No. 2016 02, Leases No. 2016 02 12 No. 2016 02 December 15, 2018, first 2020. No. 2016 02 In August 2016, No. 2016 15, Statement of Cash Flows, Classification of Certain Cash Receipts and Cash Payments. 2016 15 zero 2016 15 December 15, 2017. 2016 15 not Although there are several other new accounting pronouncements issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not

Note 3 - Inventories

Note 3 - Inventories	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories consisted of the following: November 30, 2017 August 31, 2017 Production materials $ 1,851,735 $ 1,747,189 Finished goods 6,117,593 5,709,363 $ 7,969,328 $ 7,456,552

Note 4 - Property and Equipment

Note 4 - Property and Equipment, Net	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4. Property and equipment, net consisted of the following: November 30, 2017 August 31, 2017 Land $ 310,365 $ 310,365 Buildings and improvements 6,855,488 6,847,177 Machinery and equipment 4,246,967 4,171,387 11,412,820 11,328,929 Less accumulated depreciation (4,177,519 ) (3,969,267 ) $ 7,235,301 $ 7,359,662

Note 5 - Patents and Trademarks

Note 5 - Patents and Trademarks, Net	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	5. Patents and trademarks, net consisted of the following: November 30, 2017 August 31, 2017 Patents and trademarks $ 2,769,382 $ 2,737,959 Less accumulated amortization (1,478,047 ) (1,415,870 ) $ 1,291,335 $ 1,322,089 Patent and trademark costs are amortized over seven $240,000 five

Note 6 - Investments in Joint V

Note 6 - Investments in Joint Ventures	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	6. The financial statements of the Company’s foreign joint ventures are initially prepared using the accounting principles accepted in the respective joint ventures’ countries of domicile. Amounts related to foreign joint ventures reported in the below tables and the accompanying consolidated financial statements have subsequently been adjusted to conform with U.S. GAAP in all material respects. All material profits recorded that remain on the balance sheet on sales from the Company to its joint ventures and from joint ventures to other joint ventures have been eliminated for financial reporting purposes. Financial information from the audited and unaudited financial statements of the Company’s joint ventures in Germany, Excor Korrosionsschutz – Technologien und Produkte GmbH (EXCOR) and all the Company’s other joint ventures, are summarized as follows: As of November 30, 2017 Total EXCOR All Other Current assets $ 57,249,505 $ 25,234,973 $ 32,014,532 Total assets 61,290,726 27,337,417 33,953,309 Current liabilities 17,410,457 4,987,804 12,422,653 Noncurrent liabilities 184,251 — 184,251 Joint ventures’ equity 43,696,018 22,349,613 21,346,405 Northern Technologies International Corporation’s share of joint ventures’ equity 21,701,913 11,174,808 10,527,105 Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings $ 19,590,029 $ 11,143,903 $ 8,446,126 Northern Technologies International Corporation's dividends received from joint ventures $ 63,937 $ — $ 63,937 Three Months Ended November 30, 2017 Total EXCOR All Other Net sales $ 28,498,711 $ 11,026,514 $ 17,472,197 Gross profit 12,788,122 5,933,526 6,854,596 Net income 3,499,815 2,483,800 1,016,015 Northern Technologies International Corporation’s share of equity in income from joint ventures $ 1,741,328 $ 1,241,900 $ 499,428 As of August 31, 2017 Total EXCOR All Other Current assets $ 51,518,210 $ 22,142,514 $ 29,375,696 Total assets 55,633,891 24,301,194 31,332,697 Current liabilities 15,118,074 4,469,567 10,648,507 Noncurrent liabilities 181,210 — 181,210 Joint ventures’ equity 40,334,607 19,831,627 20,502,980 Northern Technologies International Corporation’s share of joint ventures’ equity 20,035,074 9,915,816 10,119,258 Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings 17,960,860 9,884,911 8,075,949 Northern Technologies International Corporation's dividends received from joint ventures $ 6,377,054 $ 5,379,062 $ 997,992 Three Months Ended November 30, 2016 Total EXCOR All Other Net sales $ 24,200,447 $ 9,208,524 $ 14,991,923 Gross profit 10,697,027 4,894,179 5,802,848 Net income 2,408,008 1,856,338 551,670 Northern Technologies International Corporation’s share of equity in income from joint ventures $ 1,274,004 $ 928,169 $ 345,835 The Company did not three November 30, 2017 2016.

Note 7 - Corporate Debt

Note 7 - Corporate Debt	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	7. The Company has a revolving line of credit with PNC Bank, National Association (PNC Bank) of $3,000,000. No November 30, 2017 August 31, 2017. 2.15% The line of credit is governed under a loan agreement. The loan agreement contains standard covenants, including affirmative financial covenants, such as the maintenance of a minimum fixed charge coverage ratio, and negative covenants, which, among other things, limit the incurrence of additional indebtedness, loans and equity investments, disposition of assets, mergers and consolidations and other matters customarily restricted in such agreements. Under the loan agreement, the Company is subject to a minimum fixed charge coverage ratio of 1.10:1.00. November 30, 2017, The revolving credit facility allows the Company to request that PNC Bank issue letters of credit up to $1,200,000. not November 30, 2017 August 31, 2017 not As of November 30, 2017 August 31, 2017, $88,831 $89,543, 2020 2022. On January 5, 2018, January 7, 2019.

Note 8 - Stockholders' Equity

Note 8 - Stockholders' Equity	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8. On November 20, 2017, $0.10 December 21, 2017 December 8, 2017 During the three November 30, 2017, no three November 30, 2017, 1,500 $10.25 The Company granted stock options under the Northern Technologies International Corporation Amended and Restated 2007 2007 47,252 three November 30, 2017. $18.35, During the three November 30, 2016, 5,575 $12.87 No three November 30, 2016. The Company issued 891 3,029 September 1, 2017 2016, The Company granted stock options under the 2007 56,677 three November 30, 2016. $13.40,

Note 9 - Net Income Per Common

Note 9 - Net Income Per Common Share	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	9. Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted net income per share assumes the exercise of stock options using the treasury stock method, if dilutive. The following is a reconciliation of the earnings per share computation for the three November 30, 2017 2016: Three Months Ended Numerator: November 30, 2017 November 30, 2016 Net income attributable to NTIC $ 1,083,626 $ 297,639 Denominator: Basic – weighted shares outstanding 4,537,368 4,531,950 Weighted shares assumed upon exercise of stock options 71,420 26,928 Diluted – weighted shares outstanding 4,608,788 4,558,878 Basic earnings per share: $ 0.24 $ 0.07 Diluted earnings per share: $ 0.24 $ 0.07 The dilutive impact summarized above relates to the periods when the average market price of the Company’s common stock exceeded the exercise price of the potentially dilutive option securities granted. Earnings per common share were based on the weighted average number of common shares outstanding during the periods when computing the basic earnings per share. When dilutive, stock options are included as equivalents using the treasury stock market method when computing the diluted earnings per share. Excluded from the computation of diluted income per share for the three November 30, 2017 92,319 three November 30, 2016 211,564

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	10. The Company has two 2007 The 2007 2007 800,000 2007 2007 ten three four one November 30, 2017, 2007 The maximum number of shares of common stock of the Company available for issuance under the ESPP is 100,000 six September 1 March 1 90% may not 423 1986, The Company granted options to purchase an aggregate of 47,252 56,677 three November 30, 2017 2016, $103,267 $97,916 three November 30, 2017 2016, November 30, 2017, not $528,936, $309,801 2018, $153,901 $65,234 2019 2020, November 30, 2017. The fair value of each option grant is estimated on the grant date using the Black-Scholes option pricing model with the following assumptions and results for the grants: November 30, 2017 2016 Dividend yield 2.18% 0.00% Expected volatility 45.9% 46.4% Expected life of option (in years) 10 10 Average risk-free interest rate 1.87% 1.63% The weighted average per share fair value of options granted during the three November 30, 2017 2016 $7.75 $7.69, November 30, 2017 2016 6.95 7.15

Note 11 - Segment and Geographi

Note 11 - Segment and Geographical Information	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	11. Segment Information The Company’s chief operating decision maker (CODM) is its Chief Executive Officer. The Company’s business is organized into two 40 The following table sets forth the Company’s net sales for the three November 30, 2017 2016 Three Months Ended November 30, 2017 November 30, 2016 ZERUST® net sales $ 9,527,737 $ 8,084,678 Natur-Tec® net sales 2,015,301 1,617,345 Total net sales $ 11,543,038 $ 9,702,023 The following table sets forth the Company’s cost of goods sold for the three November 30, 2017 2016 November 30, % of November 30, % of Direct cost of goods sold ZERUST® $ 5,803,980 60.9% $ 4,699,537 58.1% Natur-Tec® 1,479,199 73.4% 1,213,168 75.0% Indirect cost of goods sold 605,291 NA 700,061 NA Total net cost of goods sold $ 7,888,470 $ 6,612,766 * The percent of segment sales is calculated by dividing the direct cost of goods sold for each individual segment category by the net sales for each segment category. The Company utilizes product net sales and direct and indirect cost of goods sold for each product in reviewing the financial performance of a product type. Further allocation of Company expenses or assets, aside from amounts presented in the tables above, is not Geographic Information Net sales by geographic location for the three November 30, 2017 2016 Three Months Ended November 30, 2017 November 30, 2016 Inside the U.S.A. to unaffiliated customers $ 6,256,205 $ 5,268,999 Outside the U.S.A. to: Joint ventures in which the Company is a shareholder directly and indirectly 507,631 701,799 Unaffiliated customers 4,779,202 3,731,225 $ 11,543,038 $ 9,702,023 Net sales by geographic location are based on the location of the customer. Fees for services provided to joint ventures by geographic location as a percentage of total fees for services provided to joint ventures during the three November 30, 2017 2016 Three Months Ended November 30, % of Total Fees November 30, % of Total Fees for Germany $ 219,873 14.6 % $ 203,000 15.4 % Poland 206,076 13.7 % 149,204 11.3 % Japan 174,045 11.5 % 146,037 11.1 % France 139,641 9.3 % 97,673 7.4 % Sweden 127,954 8.5 % 87,061 6.6 % United Kingdom 111,775 7.4 % 86,131 6.5 % Thailand 102,531 6.8 % 147,455 11.2 % Finland 89,627 5.9 % 76,336 5.8 % India 86,763 5.8 % 64,535 4.9 % Czech Republic 84,225 5.6 % 70,828 5.4 % South Korea 83,488 5.5 % 105,378 8.0 % Other 81,144 5.4 % 81,953 6.2 % $ 1,507,142 100.0 % $ 1,315,591 100.0 % The geographical distribution of key financial statement data is as follows: At November 30, 2017 At August 31, 2017 China $ 207,094 $ 228,458 Brazil 50,784 54,646 Germany 16,619 14,171 India 13,642 14,712 United States 6,947,162 7,047,675 Total property and equipment $ 7,235,301 $ 7,359,662 Three Months Ended November 30, November 30, China $ 2,911,643 $ 1,546,810 Brazil 639,841 601,524 India 495,539 331,610 Germany 48,771 118,259 Other 683,407 1,133,022 United States 6,763,837 5,970,798 Total net sales $ 11,543,038 $ 9,702,023 Total property and equipment are periodically reviewed to assure the net realizable value from the estimated future production based on forecasted sales exceeds the carrying value of the assets. Total assets located in the United States include the Company’s investments in joint ventures. Sales to the Company’s joint ventures are included in the foregoing segment and geographic information; however, sales by the Company’s joint ventures to other parties are not All joint venture operations, including equity in income, fees for services and related dividends, are primarily related to ZERUST ®

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	12. On August 31, 2017, August 31, 2018. 2018 75% 2018 2018 25% may 2018. $318,000 three November 30, 2017 $98,000 three November 30, 2016. Four joint ventures (consisting of the Company’s joint ventures in South Korea, Thailand, Indonesia and India) accounted for 93.6% November 30, 2017 three 60.7% August 31, 2017. From time to time, the Company is subject to various other claims and legal actions in the ordinary course of its business. The Company records a liability in its consolidated financial statements for costs related to claims, including future legal costs, settlements and judgments, where the Company has assessed that a loss is probable and an amount could be reasonably estimated. If the reasonable estimate of a probable loss is a range, the Company records the most probable estimate of the loss or the minimum amount when no not not may November 30, 2017, not

Note 13 - Fair Value Measuremen

Note 13 - Fair Value Measurements	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Fair Value, Measurement Inputs, Disclosure [Text Block]	13. Fair Value Measurements Assets and liabilities that are measured at fair value on a recurring basis primarily relate to marketable equity securities. These items are marked-to-market at each reporting period, the market value approximates the cost basis. The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis: Fair Value Measurements Using Inputs Considered as Fair value as of November 30, 2017 Level 1 Level 2 Level 3 Available for sale securities $ 3,770,241 $ 3,770,241 $ — $ — Fair Value Measurements Using Inputs Considered as Fair value as of August 31, 2017 Level 1 Level 2 Level 3 Available for sale securities $ 3,766,984 $ 3,766,984 $ — $ — The available for sale securities are mainly fixed income mutual funds. There were no 1, 2, 3 three November 30, 2017 2016.

Note 14 - Supplemental Cash Flo

Note 14 - Supplemental Cash Flow Information	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	14. SUPPLEMENTAL CASH FLOW INFORMATION Supplemental disclosures of cash flow information consisted of: Three Months Ended November 30, November 30, Cash paid for interest $ 5,089 $ 4,623 Cash paid for income taxes — — Non-cash financing activity consisted of: Three Months Ended November 30, November 30, Dividends declared, not paid $ 454,741 —

Note 15 - Subsequent Event

Note 15 - Subsequent Event	3 Months Ended
	Nov. 30, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	15. SUBSEQUENT EVENT On December 22, 2017, 35 21 January 1, 2018. may one not second 2018.

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	3 Months Ended
	Nov. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	November 30, 2017 August 31, 2017 Production materials $ 1,851,735 $ 1,747,189 Finished goods 6,117,593 5,709,363 $ 7,969,328 $ 7,456,552

Note 4 - Property and Equipme23

Note 4 - Property and Equipment, Net (Tables)	3 Months Ended
	Nov. 30, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	November 30, 2017 August 31, 2017 Land $ 310,365 $ 310,365 Buildings and improvements 6,855,488 6,847,177 Machinery and equipment 4,246,967 4,171,387 11,412,820 11,328,929 Less accumulated depreciation (4,177,519 ) (3,969,267 ) $ 7,235,301 $ 7,359,662

Note 5 - Patents and Trademar24

Note 5 - Patents and Trademarks, Net (Tables)	3 Months Ended
	Nov. 30, 2017
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	November 30, 2017 August 31, 2017 Patents and trademarks $ 2,769,382 $ 2,737,959 Less accumulated amortization (1,478,047 ) (1,415,870 ) $ 1,291,335 $ 1,322,089

Note 6 - Investments in Joint25

Note 6 - Investments in Joint Ventures (Tables)	3 Months Ended
	Nov. 30, 2017
Notes Tables
Condensed Balance Sheet [Table Text Block]	As of November 30, 2017 Total EXCOR All Other Current assets $ 57,249,505 $ 25,234,973 $ 32,014,532 Total assets 61,290,726 27,337,417 33,953,309 Current liabilities 17,410,457 4,987,804 12,422,653 Noncurrent liabilities 184,251 — 184,251 Joint ventures’ equity 43,696,018 22,349,613 21,346,405 Northern Technologies International Corporation’s share of joint ventures’ equity 21,701,913 11,174,808 10,527,105 Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings $ 19,590,029 $ 11,143,903 $ 8,446,126 Northern Technologies International Corporation's dividends received from joint ventures $ 63,937 $ — $ 63,937 As of August 31, 2017 Total EXCOR All Other Current assets $ 51,518,210 $ 22,142,514 $ 29,375,696 Total assets 55,633,891 24,301,194 31,332,697 Current liabilities 15,118,074 4,469,567 10,648,507 Noncurrent liabilities 181,210 — 181,210 Joint ventures’ equity 40,334,607 19,831,627 20,502,980 Northern Technologies International Corporation’s share of joint ventures’ equity 20,035,074 9,915,816 10,119,258 Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings 17,960,860 9,884,911 8,075,949 Northern Technologies International Corporation's dividends received from joint ventures $ 6,377,054 $ 5,379,062 $ 997,992
Condensed Income Statement [Table Text Block]	Three Months Ended November 30, 2017 Total EXCOR All Other Net sales $ 28,498,711 $ 11,026,514 $ 17,472,197 Gross profit 12,788,122 5,933,526 6,854,596 Net income 3,499,815 2,483,800 1,016,015 Northern Technologies International Corporation’s share of equity in income from joint ventures $ 1,741,328 $ 1,241,900 $ 499,428 Three Months Ended November 30, 2016 Total EXCOR All Other Net sales $ 24,200,447 $ 9,208,524 $ 14,991,923 Gross profit 10,697,027 4,894,179 5,802,848 Net income 2,408,008 1,856,338 551,670 Northern Technologies International Corporation’s share of equity in income from joint ventures $ 1,274,004 $ 928,169 $ 345,835

Note 9 - Net Income Per Commo26

Note 9 - Net Income Per Common Share (Tables)	3 Months Ended
	Nov. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Numerator: November 30, 2017 November 30, 2016 Net income attributable to NTIC $ 1,083,626 $ 297,639 Denominator: Basic – weighted shares outstanding 4,537,368 4,531,950 Weighted shares assumed upon exercise of stock options 71,420 26,928 Diluted – weighted shares outstanding 4,608,788 4,558,878 Basic earnings per share: $ 0.24 $ 0.07 Diluted earnings per share: $ 0.24 $ 0.07

Note 10 - Stock-based Compens27

Note 10 - Stock-based Compensation (Tables)	3 Months Ended
	Nov. 30, 2017
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	November 30, 2017 2016 Dividend yield 2.18% 0.00% Expected volatility 45.9% 46.4% Expected life of option (in years) 10 10 Average risk-free interest rate 1.87% 1.63%

Note 11 - Segment and Geograp28

Note 11 - Segment and Geographical Information (Tables)	3 Months Ended
	Nov. 30, 2017
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended November 30, 2017 November 30, 2016 ZERUST® net sales $ 9,527,737 $ 8,084,678 Natur-Tec® net sales 2,015,301 1,617,345 Total net sales $ 11,543,038 $ 9,702,023
Reconciliation of Cost of Goods Sold from Segments to Consolidated [Table Text Block]	November 30, % of November 30, % of Direct cost of goods sold ZERUST® $ 5,803,980 60.9% $ 4,699,537 58.1% Natur-Tec® 1,479,199 73.4% 1,213,168 75.0% Indirect cost of goods sold 605,291 NA 700,061 NA Total net cost of goods sold $ 7,888,470 $ 6,612,766
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	Three Months Ended November 30, 2017 November 30, 2016 Inside the U.S.A. to unaffiliated customers $ 6,256,205 $ 5,268,999 Outside the U.S.A. to: Joint ventures in which the Company is a shareholder directly and indirectly 507,631 701,799 Unaffiliated customers 4,779,202 3,731,225 $ 11,543,038 $ 9,702,023
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	At November 30, 2017 At August 31, 2017 China $ 207,094 $ 228,458 Brazil 50,784 54,646 Germany 16,619 14,171 India 13,642 14,712 United States 6,947,162 7,047,675 Total property and equipment $ 7,235,301 $ 7,359,662
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended November 30, November 30, China $ 2,911,643 $ 1,546,810 Brazil 639,841 601,524 India 495,539 331,610 Germany 48,771 118,259 Other 683,407 1,133,022 United States 6,763,837 5,970,798 Total net sales $ 11,543,038 $ 9,702,023
Fees for Services Provided to Joint Ventures [Member]
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended November 30, % of Total Fees November 30, % of Total Fees for Germany $ 219,873 14.6 % $ 203,000 15.4 % Poland 206,076 13.7 % 149,204 11.3 % Japan 174,045 11.5 % 146,037 11.1 % France 139,641 9.3 % 97,673 7.4 % Sweden 127,954 8.5 % 87,061 6.6 % United Kingdom 111,775 7.4 % 86,131 6.5 % Thailand 102,531 6.8 % 147,455 11.2 % Finland 89,627 5.9 % 76,336 5.8 % India 86,763 5.8 % 64,535 4.9 % Czech Republic 84,225 5.6 % 70,828 5.4 % South Korea 83,488 5.5 % 105,378 8.0 % Other 81,144 5.4 % 81,953 6.2 % $ 1,507,142 100.0 % $ 1,315,591 100.0 %

Note 13 - Fair Value Measurem29

Note 13 - Fair Value Measurements (Tables)	3 Months Ended
	Nov. 30, 2017
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	Fair Value Measurements Using Inputs Considered as Fair value as of November 30, 2017 Level 1 Level 2 Level 3 Available for sale securities $ 3,770,241 $ 3,770,241 $ — $ — Fair Value Measurements Using Inputs Considered as Fair value as of August 31, 2017 Level 1 Level 2 Level 3 Available for sale securities $ 3,766,984 $ 3,766,984 $ — $ —

Note 14 - Supplemental Cash F30

Note 14 - Supplemental Cash Flow Information (Tables)	3 Months Ended
	Nov. 30, 2017
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Three Months Ended November 30, November 30, Cash paid for interest $ 5,089 $ 4,623 Cash paid for income taxes — — Three Months Ended November 30, November 30, Dividends declared, not paid $ 454,741 —

Note 3 - Inventories - Inventor

Note 3 - Inventories - Inventories (Details) - USD ($)	Nov. 30, 2017	Aug. 31, 2017
Production materials	$ 1,851,735	$ 1,747,189
Finished goods	6,117,593	5,709,363
Total inventory	$ 7,969,328	$ 7,456,552

Note 4 - Property and Equipme32

Note 4 - Property and Equipment, Net - Components of Property and Equipment, Net (Details) - USD ($)	Nov. 30, 2017	Aug. 31, 2017
Land	$ 310,365	$ 310,365
Buildings and improvements	6,855,488	6,847,177
Machinery and equipment	4,246,967	4,171,387
Gross	11,412,820	11,328,929
Less accumulated depreciation	(4,177,519)	(3,969,267)
Net	$ 7,235,301	$ 7,359,662

Note 5 - Patents and Trademar33

Note 5 - Patents and Trademarks, Net (Details Textual) - Patents and Trademarks [Member]	3 Months Ended
	Nov. 30, 2017USD ($)
Finite-Lived Intangible Asset, Useful Life	7 years
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 240,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	240,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	240,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	240,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	$ 240,000

Note 5 - Patents and Trademar34

Note 5 - Patents and Trademarks, Net - Patents and Trademarks, Net (Details) - USD ($)	Nov. 30, 2017	Aug. 31, 2017
Patents and trademarkes, net	$ 1,291,335	$ 1,322,089
Patents and Trademarks [Member]
Patents and trademarks	2,769,382	2,737,959
Less accumulated amortization	(1,478,047)	(1,415,870)
Patents and trademarkes, net	$ 1,291,335	$ 1,322,089

Note 6 - Investments in Joint35

Note 6 - Investments in Joint Ventures (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
Payments to Acquire Interest in Joint Venture	$ 0	$ 0

Note 6 - Investments in Joint36

Note 6 - Investments in Joint Ventures - Condensed Balance Sheet of EXCOR and All Other Joint Ventures (Details) - USD ($)	3 Months Ended	12 Months Ended
	Nov. 30, 2017	Aug. 31, 2017
Current assets	$ 57,249,505	$ 51,518,210
Total assets	61,290,726	55,633,891
Current liabilities	17,410,457	15,118,074
Noncurrent liabilities	184,251	181,210
Joint ventures’ equity	43,696,018	40,334,607
Northern Technologies International Corporation’s share of joint ventures’ equity	21,701,913	20,035,074
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings	19,590,029	17,960,860
Northern Technologies International Corporation's dividends received from joint ventures	63,937	6,377,054
EXCOR [Member]
Current assets	25,234,973	22,142,514
Total assets	27,337,417	24,301,194
Current liabilities	4,987,804	4,469,567
Noncurrent liabilities
Joint ventures’ equity	22,349,613	19,831,627
Northern Technologies International Corporation’s share of joint ventures’ equity	11,174,808	9,915,816
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings	11,143,903	9,884,911
Northern Technologies International Corporation's dividends received from joint ventures		5,379,062
Joint Venture in India [Member]
Current assets	32,014,532	29,375,696
Total assets	33,953,309	31,332,697
Current liabilities	12,422,653	10,648,507
Noncurrent liabilities	184,251	181,210
Joint ventures’ equity	21,346,405	20,502,980
Northern Technologies International Corporation’s share of joint ventures’ equity	10,527,105	10,119,258
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings	8,446,126	8,075,949
Northern Technologies International Corporation's dividends received from joint ventures	$ 63,937	$ 997,992

Note 6 - Investments in Joint37

Note 6 - Investments in Joint Ventures - Condensed Income Statement of EXCOR and All Other Joint Ventures (Details) - USD ($)	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
Net sales	$ 28,498,711	$ 24,200,447
Gross profit	12,788,122	10,697,027
Net income	3,499,815	2,408,008
Equity in income from joint ventures	1,741,328	1,274,004
EXCOR [Member]
Net sales	11,026,514	9,208,524
Gross profit	5,933,526	4,894,179
Net income	2,483,800	1,856,338
Equity in income from joint ventures	1,241,900	928,169
Joint Venture in India [Member]
Net sales	17,472,197	14,991,923
Gross profit	6,854,596	5,802,848
Net income	1,016,015	551,670
Equity in income from joint ventures	$ 499,428	$ 345,835

Note 7 - Corporate Debt (Detail

Note 7 - Corporate Debt (Details Textual)	3 Months Ended
	Nov. 30, 2017USD ($)	Aug. 31, 2017USD ($)
Term Loan and Line of Credit, Agreements, Loan Agreements [Member]
Debt Instrument, Covenants, Fixed Charge Coverage Ratio	1.1
PNC Bank [Member]
Letters of Credit Outstanding, Amount	$ 0	$ 0
PNC Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	3,000,000
Long-term Line of Credit	$ 0	0
PNC Bank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.15%
PNC Bank [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,200,000
JP Morgan Chase Bank [Member]
Letters of Credit Outstanding, Amount	$ 88,831	$ 89,543

Note 8 - Stockholders' Equity (

Note 8 - Stockholders' Equity (Details Textual) - $ / shares	Nov. 20, 2017	Sep. 01, 2017	Sep. 01, 2016	Nov. 30, 2017	Nov. 30, 2016
Common Stock, Dividends, Per Share, Declared	$ 0.10			$ 0.10	$ 0
Stock Repurchased and Retired During Period, Shares				0	5,575
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				1,500	0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price				$ 10.25
Treasury Stock Acquired, Average Cost Per Share					$ 12.87
Stock Issued During Period, Shares, Employee Stock Purchase Plans		891	3,029
Dividends Payable, Date to be Paid	Dec. 21, 2017
Dividends Payable, Date of Record	Dec. 8, 2017
The 2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				47,252	56,677
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price				$ 18.35	$ 13.40

Note 9 - Net Income Per Commo40

Note 9 - Net Income Per Common Share (Details Textual) - shares	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	92,319	211,564

Note 9 - Net Income Per Commo41

Note 9 - Net Income Per Common Share - Reconciliation of the Earnings Per Share Computations (Details) - USD ($)	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
Net income attributable to NTIC	$ 1,083,626	$ 297,639
Basic – weighted shares outstanding (in shares)	4,537,368	4,531,950
Weighted shares assumed upon exercise of stock options (in shares)	71,420	26,928
Diluted – weighted shares outstanding (in shares)	4,608,788	4,558,878
Basic earnings per share: (in dollars per share)	$ 0.24	$ 0.07
Diluted earnings per share: (in dollars per share)	$ 0.24	$ 0.07

Note 10 - Stock-based Compens42

Note 10 - Stock-based Compensation (Details Textual)	3 Months Ended
	Nov. 30, 2017USD ($)$ / sharesshares	Nov. 30, 2016USD ($)$ / sharesshares
Number of Stock-based Compensation Plans	2
Stock or Unit Option Plan Expense	$ 103,267	$ 97,916
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	528,936
Allocated Share-based Compensation Expense, Estimate Remainder of Fiscal Year	309,801
Allocated Share-based Compensation Expense, Estimate, Next Fiscal Year	153,901
Allocated Share-based Compensation Expense, Estimate, Fiscal Year Two	$ 65,234
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 7.75	$ 7.69
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	6 years 346 days	7 years 54 days
The 2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares	800,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	47,252	56,677
The 2007 Plan [Member] | One Year after Date of Grant [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
The 2007 Plan [Member] | One Year after Date of Grant [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares	100,000
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	90.00%

Note 10 - Stock-based Compens43

Note 10 - Stock-based Compensation - Black-scholes Option-pricing Model Assumptions (Details)	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
Dividend yield	2.18%	0.00%
Expected volatility	45.90%	46.40%
Expected life of option (Year)	10 years	10 years
Average risk-free interest rate	1.87%	1.63%

Note 11 - Segment and Geograp44

Note 11 - Segment and Geographical Information (Details Textual)	3 Months Ended
	Nov. 30, 2017
Number of Reportable Segments	2

Note 11 - Segment and Geograp45

Note 11 - Segment and Geographical Information - Net Sales by Segment (Details) - USD ($)	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
Net sales by segment	$ 11,543,038	$ 9,702,023
ZERUST [Member]
Net sales by segment	9,527,737	8,084,678
NaturTec [Member]
Net sales by segment	$ 2,015,301	$ 1,617,345

Note 11 - Segment and Geograp46

Note 11 - Segment and Geographical Information - Cost of Goods Sold by Segment (Details) - USD ($)		3 Months Ended
		Nov. 30, 2017	Nov. 30, 2016
Cost of goods sold		$ 7,888,470	$ 6,612,766	[1]
Precentage of product sales	[1]
Direct Cost of Goods Sold [Member] | ZERUST [Member]
Cost of goods sold		$ 5,803,980	$ 4,699,537	[1]
Precentage of product sales	[1]	60.90%	58.10%
Direct Cost of Goods Sold [Member] | NaturTec [Member]
Cost of goods sold		$ 1,479,199	$ 1,213,168	[1]
Precentage of product sales	[1]	73.40%	75.00%
Indirect Cost of Goods Sold [Member]
Cost of goods sold		$ 605,291	$ 700,061	[1]
Precentage of product sales	[1]
[1]	The percent of segment sales is calculated by dividing the direct cost of goods sold for each individual segment category by the net sales for each segment category.

Note 11 - Segment and Geograp47

Note 11 - Segment and Geographical Information - Net Sales by Geographic Location (Details) - USD ($)	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
Net sales by segment	$ 11,543,038	$ 9,702,023
Inside the USA to Unaffiliated Customers [Member]
Net sales by segment	6,256,205	5,268,999
Joint Ventures in Which the Company is a Shareholder Directly and Indirectly Outside the USA [Member]
Net sales by segment	507,631	701,799
Unaffiliated Customers Outside the USA [Member]
Net sales by segment	$ 4,779,202	$ 3,731,225

Note 11 - Segment and Geograp48

Note 11 - Segment and Geographical Information - Fees for Services Provided to Joint Ventures by Geographic Location as a Percentage of Total Fees (Details) - USD ($)	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
Fees	$ 1,507,142	$ 1,315,591
Percentage of total fees	100.00%	100.00%
Fees	$ 1,507,142	$ 1,315,591
Percentage of total fees	100.00%	100.00%
GERMANY
Fees	$ 219,873	$ 203,000
Percentage of total fees	14.60%	15.40%
Fees	$ 219,873	$ 203,000
Percentage of total fees	14.60%	15.40%
POLAND
Fees	$ 206,076	$ 149,204
Percentage of total fees	13.70%	11.30%
Fees	$ 206,076	$ 149,204
Percentage of total fees	13.70%	11.30%
JAPAN
Fees	$ 174,045	$ 146,037
Percentage of total fees	11.50%	11.10%
Fees	$ 174,045	$ 146,037
Percentage of total fees	11.50%	11.10%
FRANCE
Fees	$ 139,641	$ 97,673
Percentage of total fees	9.30%	7.40%
Fees	$ 139,641	$ 97,673
Percentage of total fees	9.30%	7.40%
SWEDEN
Fees	$ 127,954	$ 87,061
Percentage of total fees	8.50%	6.60%
Fees	$ 127,954	$ 87,061
Percentage of total fees	8.50%	6.60%
UNITED KINGDOM
Fees	$ 111,775	$ 86,131
Percentage of total fees	7.40%	6.50%
Fees	$ 111,775	$ 86,131
Percentage of total fees	7.40%	6.50%
THAILAND
Fees	$ 102,531	$ 147,455
Percentage of total fees	6.80%	11.20%
Fees	$ 102,531	$ 147,455
Percentage of total fees	6.80%	11.20%
FINLAND
Fees	$ 89,627	$ 76,336
Percentage of total fees	5.90%	5.80%
Fees	$ 89,627	$ 76,336
Percentage of total fees	5.90%	5.80%
INDIA
Fees	$ 86,763	$ 64,535
Percentage of total fees	5.80%	4.90%
Fees	$ 86,763	$ 64,535
Percentage of total fees	5.80%	4.90%
CZECH REPUBLIC
Fees	$ 84,225	$ 70,828
Percentage of total fees	5.60%	5.40%
Fees	$ 84,225	$ 70,828
Percentage of total fees	5.60%	5.40%
KOREA, REPUBLIC OF
Fees	$ 83,488	$ 105,378
Percentage of total fees	5.50%	8.00%
Fees	$ 83,488	$ 105,378
Percentage of total fees	5.50%	8.00%
Other Countries [Member]
Fees	$ 81,144	$ 81,953
Percentage of total fees	5.40%	6.20%
Fees	$ 81,144	$ 81,953
Percentage of total fees	5.40%	6.20%

Note 11 - Segment and Geograp49

Note 11 - Segment and Geographical Information - Total Long-lived Assets by Geographic Distribution (Details) - USD ($)	Nov. 30, 2017	Aug. 31, 2017
Total long-lived assets	$ 7,235,301	$ 7,359,662
CHINA
Total long-lived assets	207,094	228,458
BRAZIL
Total long-lived assets	50,784	54,646
GERMANY
Total long-lived assets	16,619	14,171
INDIA
Total long-lived assets	13,642	14,712
UNITED STATES
Total long-lived assets	$ 6,947,162	$ 7,047,675

Note 11 - Segment and Geograp50

Note 11 - Segment and Geographical Information - Total Net Sales by Geographic Distribution (Details) - USD ($)	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
Net sales by segment	$ 11,543,038	$ 9,702,023
CHINA
Net sales by segment	2,911,643	1,546,810
BRAZIL
Net sales by segment	639,841	601,524
INDIA
Net sales by segment	495,539	331,610
GERMANY
Net sales by segment	48,771	118,259
Other Countries [Member]
Net sales by segment	683,407	1,133,022
UNITED STATES
Net sales by segment	$ 6,763,837	$ 5,970,798

Note 12 - Commitments and Con51

Note 12 - Commitments and Contingencies (Details Textual) - USD ($)	3 Months Ended
	Nov. 30, 2017	Aug. 31, 2017	Nov. 30, 2016
Accrued Bonuses	$ 318,000		$ 98,000
Entity Wide Trade Joint Venture Receivables, Four Joint Ventures,Percentage	93.60%
Entity Wide Trade Joint Venture Receivables, Three Joint Ventures,Percentage		60.70%
Fiscal 2018 Bonus Plan [Member] | Executive Officer [Member]
Percentage of Individual Bonus Payout Determined by Actual Versus Targeted EBITOI Results	75.00%
Percentage of Individuals Payout Determined Upon Achievement of Certain Pre-Established Individual Performance Objectives	25.00%

Note 13 - Fair Value Measurem52

Note 13 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value Recurring Basis (Details) - USD ($)	Nov. 30, 2017	Aug. 31, 2017
Available for sale securities	$ 3,770,241	$ 3,766,984
Fair Value, Inputs, Level 1 [Member]
Available for sale securities	3,770,241	3,766,984
Fair Value, Inputs, Level 2 [Member]
Available for sale securities
Fair Value, Inputs, Level 3 [Member]
Available for sale securities

Note 14 - Supplemental Cash F53

Note 14 - Supplemental Cash Flow Information - Supplemental Disclosures of Cash Flow Information (Details) - USD ($)	3 Months Ended
	Nov. 30, 2017	Nov. 30, 2016
Cash paid for interest	$ 5,089	$ 4,623
Cash paid for income taxes
Dividends declared, not paid	$ 454,741

Note 15 - Subsequent Event (Det

Note 15 - Subsequent Event (Details Textual)	Jan. 01, 2018	Dec. 31, 2017
Subsequent Event [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%